Inspirion Wealth Advisors LLC Has $712,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Inspirion Wealth Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,300 shares of the coffee company’s stock after selling 207 shares during the quarter. Inspirion Wealth Advisors LLC’s holdings in Starbucks were worth $712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Thrive Wealth Management LLC boosted its stake in Starbucks by 17.0% during the 3rd quarter. Thrive Wealth Management LLC now owns 4,236 shares of the coffee company’s stock worth $413,000 after acquiring an additional 615 shares during the last quarter. Rockland Trust Co. boosted its position in shares of Starbucks by 4.2% during the third quarter. Rockland Trust Co. now owns 275,349 shares of the coffee company’s stock worth $26,844,000 after purchasing an additional 11,032 shares in the last quarter. Alpha Omega Wealth Management LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $212,000. Bright Rock Capital Management LLC bought a new stake in shares of Starbucks in the 3rd quarter valued at $9,749,000. Finally, Curbstone Financial Management Corp lifted its holdings in Starbucks by 1.9% during the third quarter. Curbstone Financial Management Corp now owns 12,510 shares of the coffee company’s stock worth $1,220,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SBUX shares. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Citigroup lifted their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group assumed coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Price Performance

Shares of Starbucks stock traded up $1.02 during trading on Friday, reaching $96.58. 6,819,465 shares of the company traded hands, compared to its average volume of 11,699,863. The firm has a market capitalization of $109.40 billion, a PE ratio of 26.61, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a 50 day moving average price of $90.91 and a 200-day moving average price of $84.44. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.